Ingredion invests $140m to boost growth in plant-based proteins

Ingredion will invest $140 million to broaden its range of plant-based protein solutions, as it responds to consumer demands for sustainable alternatives to animal-based proteins.

As a result, two North American manufacturing facilities will produce pea-protein isolates and a range of pulse-based flours and concentrates in 2019.

In February 2018, Ingredion purchased a soy processing facility in South Sioux City, Nebraska, and is now making investments to transform the site to produce protein isolates from peas, with expansion plans to include the production of isolates from other pulses as well. Once the investments are completed, the facility will produce ingredients that enhance the company’s current Vitessence pulse protein isolate line.

Ingredion has also announced that it has entered into a joint venture agreement with Verdient Foods, a Canadian company based in Vanscoy, Saskatchewan, jointly owned and operated by Oscar-winning film director James Cameron and Suzy Amis Cameron and a local Saskatchewan family office – PIC Investment Group. Investments are being made within the existing facility to make pulse-based protein concentrates and flours from peas, lentils and fava beans for food applications. 

“We’ve identified plant-based proteins as a high-growth, high-value market opportunity that is on-trend with consumers’ desire to find sustainable and good-tasting alternatives to animal-based proteins,” said Ingredion’s president and chief executive officer Jim Zallie.  

“We’re excited by what these investments represent for Ingredion. Being a sustainable and trusted source of plant-based proteins provides us with another major ingredient platform to complement our offerings in clean label, wholesome, texture and nutritional ingredient solutions.”

James Cameron said: “We’ve found a great partner in Ingredion. They share our vision for plant-based proteins and other ingredients from pulses, and with their resources, expertise and worldwide reach, together we can be leaders in the new wave of global food production. This is also a huge opportunity for Canadians, especially in the prairie provinces, to add value locally to their vast agricultural production.”

Ingredion said an increasing number of consumers are switching to plant-based proteins for reasons such as: protecting animals, preserving the environment, general health concerns or changing taste preferences.

“More consumers are looking for products with clean and simple labels, offering specific health and nutrition benefits that taste great,” said Tony DeLio, senior vice president of corporate strategy and chief innovation officer at Ingredion.  

“Meeting the nutritional needs and achieving the right functional requirements will require a broad range of protein alternatives that are sustainable, affordable and great tasting. By combining our expertise in product formulation with an expanded plant-based product portfolio, we’re well positioned to deliver a breadth of ingredient solutions for our customers around the world.”